The Sensex has opened 112 points at 16,296 and has zoomed to a high of 14,432.
The index is now at 16, 405, up 222 points. The NSE Nifty is at 4,876, up 62 points.
ICICI Bank has gained 3.5% to Rs 819. Bharti Airtel has advanced 3% to Rs 423. Reliance Communications, Maruti Suzuki, Infosys and HDFC have added over 1.5% each to Rs 305, Rs 1,539, Rs 2,231 and Rs 2,569, respectively.
Hindustan Unilever and Grasim Industries are down marginally.